Word: profiteered
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Dates: during 1970-1979
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...Harvard," Crooks says. "We pay $44,000 for the library system, and that doesn't even cover the cost of Lamont. I could keep a set of books that would show a huge deficit for the Summer School, or I could keep a set of books showing a huge profit, but we try to pay all explicit costs, things like rent for our offices. I also try to keep summer students from being exploited with high room and board charges--it costs summer students more to eat than undergraduates during the school year, even though there's only one dining...
...indirectly help Soviet military programs," he says. "The mirror image of that is for us to ask: Should we help your domestic economic problems by trading with the U.S. and thus creating jobs there and supplying needed raw materials? By trade we do not mean mutual aid, but mutual profit...
...deals with the Soviets, but so far they have resisted selling the advanced technology, like high-speed computers and microelectronics, that could help the Soviet arms efforts. The businessmen are more than willing to trade low-grade technology and most other products, but they see little long-term profit in selling complete plants. Lockheed and Boeing, for instance, are now dickering with Moscow on the sale of jumbo jets, but they...
...situation of New York's Franklin National Bank, until recently the nation's 20th largest, has looked dismal ever since a gray day in May. Then the bank announced that instead of the $582,000 profit it had originally reported for the first quarter, it might have suffered a loss of as much as $39 million because of unauthorized trading in foreign currency by employees (TIME, May 27). Last week the picture suddenly turned $24.6 million worse. The bank reported losses of a numbing $63.6 million for this year's first five months: $40 million...
...Profit from a Monetary Crisis, Browne...